3. Per Share Data

Basic earnings per share are computed using net income attributable to common shareholders and the weighted average number of common shares outstanding. Diluted earnings per share reflect common shares issuable from the assumed conversion of common share options and share awards granted and units convertible into common shares. Only those items having a dilutive impact on our basic earnings per share are included in diluted earnings per share. Our unvested share-based awards are considered participating securities and are reflected in the calculation of basic and diluted earnings per share using the two-class method. The number of common share equivalent securities excluded from the diluted earnings per share calculation was approximately 3.3 million and 3.7 million for the three months ended September 30, 2012 and 2011, respectively, and was approximately 2.4 million and 4.8 million for the nine months ended September 30, 2012 and 2011, respectively. These securities, which include common share options and share awards granted and units convertible into common shares, were excluded from the diluted earnings per share calculation as they are anti-dilutive.

The following table presents information necessary to calculate basic and diluted earnings per share for the periods indicated:



	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(in thousands, except per share amounts)	2012			2011			2012			2011
Earnings per share calculation – basic
Income (loss) from continuing operations attributable to common shareholders	$	30,360		$	10,751		$	108,091		$	(638	)
Amount allocated to participating securities	(288		)	(154		)	(1,387		)	(118		)
Income (loss) from continuing operations attributable to common shareholders, net of amount allocated to participating securities	30,072			10,597			106,704			(756		)
Income from discontinued operations, including gain on sale, attributable to common shareholders	343			1,089			33,133			3,167
Net income attributable to common shareholders, as adjusted	$	30,415		$	11,686		$	139,837		$	2,411

Income (loss) from continuing operations attributable to common shareholders, as adjusted – per share	$	0.35		$	0.14		$	1.29		$	(0.01	)
Income from discontinued operations, including gain on sale, attributable to common shareholders – per share	0.01			0.02			0.40			0.04
Net income attributable to common shareholders, as adjusted – per share	$	0.36		$	0.16		$	1.69		$	0.03

Weighted average number of common shares outstanding – basic	85,631			73,242			82,923			72,502

Earnings per share calculation – diluted
Income (loss) from continuing operations attributable to common shareholders, net of amount allocated to participating securities	$	30,072		$	10,597		$	106,704		$	(756	)
Income allocated to common units from continuing operations	—			8			1,167			—
Income (loss) from continuing operations attributable to common shareholders, as adjusted	30,072			10,605			107,871			(756		)
Income from discontinued operations, including gain on sale, attributable to common shareholders	343			1,089			33,133			3,167
Net income attributable to common shareholders, as adjusted	$	30,415		$	11,694		$	141,004		$	2,411

Income (loss) from continuing operations attributable to common shareholders, as adjusted – per share	$	0.35		$	0.14		$	1.27		$	(0.01	)
Income from discontinued operations, including gain on sale, attributable to common shareholders – per share	—			0.02			0.39			0.04
Net income attributable to common shareholders, as adjusted – per share	$	0.35		$	0.16		$	1.66		$	0.03

Weighted average number of common shares outstanding – basic	85,631			73,242			82,923			72,502
Incremental shares issuable from assumed conversion of:
Common share options and share awards granted	662			793			655			—
Common units	—			239			1,116			—
Weighted average number of common shares outstanding – diluted	86,293			74,274			84,694			72,502